The agreement was struck approximately 27 hours before the Wednesday deadline for tagged players to ink multi-year deals.
Kansas City reportedly opened negotiations with Jones days after finalizing its gargantuan 10-year extension with quarterback Patrick Mahomes. Jones previously hinted he was willing to follow in Le'Veon Bell's footsteps and sit out the entire season if he didn't get a long-term contract.
Jones has developed into one of the top interior tackles in the NFL since the Chiefs selected him in the second round of the 2016 draft. He notched 24.5 sacks over the last two years despite missing three games and came up big in Super Bowl LIV with three pass deflections.
Jones joins Khalil Mack, Aaron Donald, DeMarcus Lawrence, DeForest Buckner, and teammate Frank Clark as the only defensive players boasting an average annual salary of $20 million or more. His salary ranks third among defensive tackles behind Donald's and Buckner's.
The Chiefs project to have eight players with cap hits larger than $10 million in 2021, putting them in a precarious position moving forward. Jones, Clark, and Mahomes will all be on the cap for at least $20 million in 2021, while safety Tyrann Mathieu won't be far behind with a hit of $19.7 million.